India's DMart slides after posting first profit drop in three years
Shares of India's Avenue Supermarts posted their steepest drop in five months after the DMart store chain operator posted its first drop in quarterly profit in three years.
Source: reuters.com
Lidl invests over €500mln in Serbia in first five years
German discounter Lidl has invested more than €550mln in Serbia in the first five years since it commenced operations in the country and employed over 3,300 people.
Source: esmmagazine.com
Britain's Tesco to recruit 30,000 workers for Christmas season
Tesco, Britain's largest retailer, is planning to recruit 30,000 temporary workers for the Christmas period. It said the jobs would mainly be in its larger supermarkets with roles on checkouts, store replenishment, and picking orders for home delivery.
Source: reuters.com
Why Edeka increases stake in Picnic
Dutch online supermarket Picnic is trying to raise half a billion euros in growth capital. Half of that amount comes from Edeka, which is increasing its stake to 25%. That is no coincidence, as the Dutch startup plays a key role in the German market leader's online strategy.
Source: retaildetail.eu
Australia: Harris Farm Markets saves 40mln kilos of imperfect fruit and veg saved from landfill
Family-owned Harris Farm Markets, with a reputation for the freshest fruit and veg as voted by Australia at the 2023 Finder Retail awards, has announced an unparalleled achievement: 40mln kilos of imperfect fruit and vegetables saved from landfill since the launch of its Imperfect Picks range in 2014.
Source: retailworldmagazine.com.au
UK: Little-known NHS benefits that parents can claim every week towards the cost of shopping
There are plenty of schemes available that are designed to help, but one that would help parents or expectant mothers make their weekly shop a little cheaper has flown under the radar. The NHS Healthy Start scheme gives eligible recipients money every week to spend on certain types of milk, baby formula, fruit, and vegetables.
Source: nottinghampost.com
Greece: Mitsotakis lists three measures against food price hikes
Prime Minister Kyriakos Mitsotakis referred to three measures that can help tackle rising prices in food products in a video on social media. First is a bill by the development ministry which has already been passed in parliament, he said, forcing all supermarket companies to provide government authorities with all the information regarding price increases set by suppliers. Second is the explicit requirement that supermarkets absolutely have to post all their prices for fruits and vegetables on a daily basis to the e-katanalotis online platform "so that people can compare prices and choose the cheapest products." Finally, Mitsotakis said that soon enough, supermarkets will be displaying a -5% shelf tag, indicating that suppliers have committed to keeping these products' prices lower for the next six months.
Source: greekcitytimes.com
China: JD.com shares hit record low, banks cut Q3 growth target on retail slowdown
Shares in Chinese e-commerce giant JD.com fell as much as 13% to a record low after several banks and brokers cut price targets and revenue growth forecasts for the firm, citing a weaker-than-expected recovery in consumer spending.
Source: reuters.com
The 10 largest international marketplaces operating in Europe
These figures come from Cross-Border Commerce Europe, the platform promoting cross-border e-commerce in Europe, which just published its new top 100 international marketplaces active in Europe. 1. AliExpress (China); 2. Etsy (US); 3. Amazon (US); 4. eBay (US); 5. Discogs (US); 6. OLX (Netherlands); 7. Bandcamp (US); 8. Uber Eats (US); 9. Temu (China); 10. Vinted (Lithuania).
Source: retaildetail.eu
India: Agritech startup Otipy banks on AI prediction to reduce wastage and enhance efficiency in food supply chain
Gurugram-based Otipy is a community-based agritech platform that connects consumers, resellers, and farmers to bring fresh produce to consumers' doorstep. The startup employs an AI prediction model to anticipate demand and minimize food wastage. Otipy operates an e-commerce app that provides farm-fresh vegetables and fruits.
Source: yourstory.com
Centra partners with Snappy Shopper for new home delivery app in Ireland
Snappy Group, the technology business behind Snappy Shopper, the fast-growing grocery and convenience store delivery app, has announced a new overseas strategic partnership. Collaborating with Ireland's leading convenience grocery retailer, Centra, Snappy will develop and power the new home delivery app, 'Centra Go.'
Source: talkingretail.com
Croatia: Studenac obtains EBRD loan to finance future acquisitions
The European Bank for Reconstruction and Development (EBRD) is providing a €17.75mln senior long-term loan to Croatian food retailer Studenac.
Source: esmmagazine.com
Sweden: ICA Real Estate sells logistics property in Västerås to Genesta
ICA Real Estate has sold the logistics property Saltängen 1, ICA's warehouse facility in Västerås, to Genesta through a so-called sale and lease back transaction in which ICA Real Estate has signed a 15-year lease agreement with Genesta. The property area amounts to approximately 101,000 square meters.
Source: icagruppen.se
French retailer Casino agrees initial deal to sell stake in Éxito Group
Indebted French supermarket chain Casino said it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Éxito to Grupo Calleja. Casino's board approved a pre-agreement to sell its entire stake in Almacenes Éxito to Grupo Calleja, a leading grocery retailer in El Salvador, it said.
Source: reuters.com
US: Dollar General stock jumps after it brings back former CEO to jolt slowing sales growth
Former Dollar General CEO Todd Vasos is returning to lead the company once again. The discounter has seen sales growth slow and has also faced criticism for having an unsafe environment for both employees and customers. Ousted CEO Jeff Owen has been in the position for less than a year.
Source: cnbc.com
US: Publix goes bigger in Florida
Publix Super Markets is opening several new supermarkets this fall, including one in Florida that's bigger than usual, as reported by the Miami Herald. A new store in Lakeland, where the company is based, will be almost 55,000 square feet. It's scheduled to open on November 9. Publix opened a similarly larger store in Coral Springs, Florida, back in August.
Source: progressivegrocer.com
US: Sprouts Farmers Market opens new distribution center in California
Sprouts Farmers Market now has a new distribution center in Fullerton, California. The 337,000-square-foot facility will allow the grocer to service 95 stores within a 250-mile radius in southern California. The center also includes a fruit ripening room.
Source: supermarketnews.com
Canada: Toronto-area grocery store distribution center workers walk out on strike
Grocery workers at a Greater Toronto Area warehouse walked off the job Saturday as negotiations between union officials and a major supermarket chain broke down. The union representing workers at a Sobeys distribution center in the York Region began strike action after rejecting what the Teamsters 419 union called a "lowball offer" that removed job security.
Source: globalnews.ca
US: Walmart to open 5th 'next generation' fulfillment center
Walmart plans to open its fifth "next-generation" fulfillment center, the retailer announced. The 900,000-square-foot facility in Stockton, California, which is expected to open in 2026, will help the retailer handle online orders throughout the West Coast with more speed and efficiency.
Source: grocerydive.com